JP Morgan upgraded Infinera (NASDAQ: INFN) from Neutral to Overweight and raised the price target from $6.00 to $8.00.
JP Morgan commented, “We believe the company is positively exposed to 100G optical demand through its DTN-X product where momentum continues to build. Based on Infinera’s long term targets, we see further upside to margins and EPS if the company executes well. … We are upbeat on Infinera’s 100G momentum with the DTN-X, which has 20 customers (7 new, 13 existing). We like that the DTN-X has broken into the Tier 1 carrier market and that Infinera now has five Tier 1 customers.”
Infinera closed at $6.53 on Wednesday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: JP Morgan
Posted in: Analyst Color, Upgrades, Pre-Market Outlook, Analyst Ratings